The investors who are supposed to never sell just sold. A lot.
Long-term Bitcoin holders, defined as wallets that have held BTC for at least 155 days, offloaded roughly $2.4 billion worth of Bitcoin in just two days leading up to June 3. That wave of selling represented about 26% of all Bitcoin transacted over the preceding 30 days, according to analysis from Compass Point’s Ed Engel.
The timing is hard to ignore. Bitcoin slipped below $70,000 for the first time since April 8, and the people who typically ride out drawdowns decided they’d had enough.
The numbers behind the capitulation
These wallets went dormant from February through April 2026, sitting on their positions while the market churned around them. That months-long silence made the sudden $2.4 billion liquidation all the more jarring.
